Not likely, unless you are in a pretty noisy environment where you need to keep the noise out.

However, the R704/705 soundboard covered with burlap, makes awesome wall treatment, and it's easy to make look nice. You can get some pretty classy burlaps at any decent fabric store. Build yourself a drywall over steel stud (or wood) room, with a wood and full length double paned glass door (from your local home depot. try not to make it cubic or sqaure, but give it a shape that has not parallel walls if possible. Build yourself some boxes using 1/4 plywood backing framed with 1x3 pine or redwood. Get some 2.5" thick R704 soundboard panels (2' x 4') glue the burlap onto that, and then slip the soundboard/burlap into the framed box, so that the burlap is facing out/showing.

Hang several of these on the wall (better yet, completely cover the walls with them). You can also get some 54" square fire treated eggrated style sound foam from markertech for about $20 each. cover the ceiling and or one of the walls with this. Also, louvered window shades make great diffusers. You can stained ones and fasten them to cover some of the soundboard panels. They look nice and are much cheaper than the auralex style stuff.